Pizza Pizza Royalty (TSE:PZA) Shares Cross Above 50-Day Moving Average - Here's What Happened

Key Points

• Pizza Pizza Royalty shares have crossed above the 50-day moving average, trading at C$15.72 with a daily high of C$15.94.
• TD Securities has raised their price target on the stock from C$14.00 to C$17.00 and maintains a "hold" rating.
• The company will pay a dividend of $0.0775 on September 15th to shareholders of record as of August 29th, with a payout ratio of 98.94%.

Pizza Pizza Royalty Corp. (TSE:PZA - Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$15.86 and traded as high as C$15.94. Pizza Pizza Royalty shares last traded at C$15.72, with a volume of 30,974 shares trading hands.

Analyst Upgrades and Downgrades

Separately, TD Securities boosted their price objective on shares of Pizza Pizza Royalty from C$14.00 to C$17.00 and gave the company a "hold" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Pizza Pizza Royalty currently has a consensus rating of "Hold" and an average price target of C$17.00.

Pizza Pizza Royalty Price Performance

The company has a quick ratio of 3.03, a current ratio of 0.19 and a debt-to-equity ratio of 15.72. The company has a market capitalization of C$524.32 million, a P/E ratio of 16.72 and a beta of 0.43. The company's 50-day simple moving average is C$15.86 and its 200 day simple moving average is C$14.72.

Pizza Pizza Royalty Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.0775 dividend. Pizza Pizza Royalty's dividend payout ratio is 98.94%.

Pizza Pizza Royalty Company Profile

Pizza Pizza Royalty Corp., through its subsidiary, Pizza Pizza Royalty Limited Partnership, owns and franchises quick-service restaurants under the Pizza Pizza and Pizza73 brands. It offers a flavorful, varied and high-quality menu to pizza-lovers of all ages and tastes and it is composed of more than 600 traditional and non-traditional restaurants coast to coast, employing over 3,000 Canadians.

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